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'The current housing recovery could stall'

"The current housing recovery could stall" if new construction does not pick up, according to the National Association of Realtors. The NAR said in its monthly report on Thursday that pending sales of single-family homes, condos and co-ops fell 2.4% in August. Economists had forecast that sales were flat, according to Bloomberg. Because pending sales reflect contract activity, they're a good indicator of how many existing homes will eventually be sold.
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